Federal Reserve Governor Cook: Will Defend the Fed's Independence, Relieved by Supreme Court Ruling

Odaily Odaily News: Federal Reserve Governor Cook stated, "This matter (mortgage fraud allegations) is absolutely not about mortgage documents I signed before becoming a Fed Governor. It is purely a conspiracy to remove me from office, based on entirely fabricated excuses; I am being targeted because I refused to succumb to political pressure and insisted on setting interest rate policy based solely on what is best for the American people. This is the most fundamental duty of a Fed Governor. Today's ruling reaffirms a principle that underpins generations of sound economic management: the Fed must make all policy decisions based on evidence and independent judgment, free from political interference."

"The Supreme Court's decision to uphold the lower court's order and affirm the necessity of following due process and having just cause; this decision recognizes that the Fed's independence is crucial for achieving the congressionally mandated goals of 'price stability' and 'maximum employment.' I am deeply relieved by this ruling. As long as I serve on the Fed Board, I will continue to defend the principle of political independence and serve all the American people with dedication." (Jinshi)